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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29919
Experience:  Taxes, Immigration, Labor Relations
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hi i wanted to know if i started my first day of work in dec

Customer Question

hi i wanted to know if i started my first day of work in dec 2010 but didnt get paid until jan 15 2011 which year would i report that income . would it be 2010 or 2011. and if it is 2010 do i have the option to not file the 2500.00 with 2010 and just file it in 2011 with my other income ??
Submitted: 5 years ago.
Category: Tax
Expert:  Lev replied 5 years ago.


Hi and welcome to Just Answer!

Assuming you are cash basis taxpayer - as most of us are - your income is taxable based on when it is received not when it is earned.
You have constructive receipt of income when an amount is credited to your account or made available to you without restriction.
Because you received that income on January 15 2011 - it should be included into your 2011 tax return.

Let me know if you need any help or clarification.